Expert Cites 3 Retirement Crises

  • Back when I was a stock broker I became familiar with the Vanguard family of mutual funds. They were founded by a man named Jack Bogle. He was one of the early innovators in mutual fund investing. And later a pioneer in index funds (funds that mimic an index and don't rely on fund managers). Both of those efforts helped many people save and invest successfully. For more than 30 years I've respected Jack Bogle. If you look closely at TDS videos you'll see a copy of his book on the shelf behind me.


    This week I saw an article on Time Magazine's website where Bogle suggested that there are actually 3 retirement crisises. link here


    "No. 1 is the financial squeeze on Social Security, which is projected to reach a point at which the system can’t meet obligations to future retirees in full.
    No. 2 is a similar underfunding among pension plans at corporations and at state and local governments—which Bogle said is exacerbated by some plans “idiotically” assuming unrealistically high investment returns such as 7.5% a year.
    No. 3 are problems among the 401(k)s and other defined contribution savings plans that are increasingly the primary workplace retirement plans for Americans. Issues include high expenses in some plans and instances in which workers are given bad advice by brokers and other financial advisers to roll money from their 401(k)s into higher-cost investments."

    That's why it's important to learn as much as you can about your finances. When the chips are down you are the one responsible for your financial well being. I'd like to think that we help you do that with our TDS website and newsletters. If you haven't already, consider subscribing to one of our newsletters. Remember, what you do with your finances has a lot to do with what your finances do for you!


    Keep on Stretching those Dollars!

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